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I'd say the opposite applies more, these days.
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Yeah, I think I'd agree with you. With the balance of power now favoring the U.S., our relationship with you guys has definitely changed (i.e. we're not you're bitches so much anymore). But at the same time, modern U.S. foreign policy has propagated the notion that we've got the U.K.'s back. The same goes for U.K. policy. Notable events that reinforce this idea include Iraq (obviously), but also the NATO bombing of Yugoslavia, the Falklands, etc. There still very much is a cause and effect thing going on thats a result of our close relationship. It might be somewhat less relevant today, but our relationship is still very much dictating each other's foreign policy to a certain extent.